willingness of originators to initiate loans. Since the supply of loanable funds is larger, mortgage rates are lower than would …

This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key … researchers to explore the central unsolved question in this area: why mortgage default is so rare, even for households with high …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

This article examines the impact of regulation on lending standards during the mortgage boom. We exploit the overall … regulatory wedge between banks and independent mortgage companies (IMCs) and a variation in this regulatory wedge across states … how inconsistent regulation of mortgage lenders has resulted in risky lending being increasingly channeled through the …

We show that the lightly regulated non-bank mortgage originators contributed disproportionately to the recent boom …-bust housing cycle. Using comprehensive data on mortgage originations, which we aggregate at the county level, we first establish …